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The Latest Breaking News from Inflation

UK interest rates hit 13-year-high - pushing up mortgages and debts for millions

The Bank of England is increasing base rate to bring down soaring inflation, but in the short term it means people in debt and homeowners paying even more than before

Daily Mirror

Bank of England hikes interest rates to 1%: What it means for your money

The bank's committee has voted in favour of a 0.25 percentage point increase, taking the base rate - which lenders use as a benchmark for interest rates - to a 13-year high of 1%

Daily Mirror

Shell reports record 1st-quarter earnings as oil prices soar

Energy giant Shell has reported record first-quarter earnings after a surge in oil prices

The Independent UK

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Inflation attached to energy prices after April cooling

Thai inflation in May is expected to rise in lockstep with energy prices, which remain at a high level compared with 2021, after the headline rate increased 4.65% year-on-year in April, according to the Commerce Ministry.

Bangkok Post

Rishi Sunak reportedly blocked from higher benefit rise by ageing IT system

Chancellor considered rise of more than 3.1% but was told he could only do it ‘once a year’ due to 40-year-old system

The Guardian - UK

Bank of England expected to raise interest rates again

The Bank of England is expected to raise its key interest rate to the highest level in 13 years

The Independent UK

Inflation in Turkey soars to eye-popping near 70% in April

Official data show that inflation in Turkey has soared to nearly 70% in April, as skyrocketing prices eat away at earnings and put even basic necessities out of reach for many households

The Independent UK

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Sainsbury’s shoppers furious after supermarket makes major change to online deliveries

Customers have called out the supermarket for upping prices as inflation hit a new 30-year record high

Chronicle Live

Martin Lewis brands minister's advice on food shopping 'bull****'

The advice has seen the Government labelled patronising and out of touch

Wales Online

US Federal Reserve walks fine line between inflation and recession

America's central bank is hiking interest rates by half a percent in a bid to tame decades-high inflation in the US. But it’s also tempering its plan for future hikes to avoid sending the economy into recession. Meanwhile, French consumers are facing skyrocketing prices across a number of sectors.

France 24

Barratt CEO David Thomas says biggest UK housebuilder working hard to meet demand

CEO says selling prices are up around 7 per cent - offsetting build cost inflation of 6 per cent

Birmingham Post

Asian, European markets rise as US Fed eases fears of huge rate hike

Markets rallied Thursday after the US Federal Reserve played down chances of a huge interest rate hike in the near future, while oil extended gains as the European Union moved to ban imports from Russia.

Bangkok Post

Farmers accuse supermarkets of 'ripping off' consumers amid fresh produce price-hike

Retailers say consumers should brace themselves for continued price rises on the back of inflation but farmers accuse them of price gouging with "atrocious" mark-ups.

ABC News

Zalando Posts First Decline in Sales Since Founding

Zalando posted a decline in sales for the first time since the German online fashion retailer was founded, leading it to dim its outlook for 2022 on Thursday. First-quarter sales fell by 1.5%, to 2.2 billion euros ($2.33 billion), after posting a 46.8% increase in the same quarter last year…

Asharq Al-Awsat

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The Independent UK

Interest rates UK - live: Bank of England reveals hike to highest level in 13 years

Inflation will hit 10 per cent this year, according to central bank forecast

Asharq Al-Awsat

Iran Prepares for Protests Amid Fears of Nuclear Negotiations Failure

Iranian authorities issued "secret directives" to the security and the judiciary units to prepare for public protests after an increase in food prices due to fears of the collapse of the Vienna talks, Iranian sources told Asharq Al-Awsat. The sources said that the security services, police, riot control, the judiciary,…

Insider UK

Reach reports 'challenging conditions' hitting revenue

National publisher has seen further inflation in operating costs, particularly within print

Evening Standard

FTSE 100 Live: Pound crashes on BoE outlook, rates hiked, Musk raises $7bn for Twitter bid, Shell profits soar

Interest rates reached 1% for the first time in 13 years today as Bank of England policymakers battle rampant inflation.

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Wales Online

Bank of England interest rate rise - how it would affect savings, mortgages and pensions

Interest rates are expected to be hiked again on Thursday to 1% - their highest level for 13 years

The Guardian - UK

Pound tumbles to two-year low as stagflation fears rise – as it happened

Sterling tumbles to lowest since June 2020 as Bank of England lifts interest rates to 13-year high, cuts growth forecasts, and sees inflation hitting 10%

The Hindu

For services, April brings high costs with fast growth

S&P India Services PMI zooms to 57.9 in April from 53.6 in March; export orders fall the hardest since September 2021

The Independent UK

Asian stocks rise after Fed chair downplays bigger rate hike

Asian stock markets have followed Wall Street higher after the Federal Reserve chairman downplayed the likelihood of bigger rate hikes following the U.S. central bank’s biggest increase in two decades

Wales Online

Cost of your mortgage and other borrowing set to increase today to 13-year high

Another increase is expected in August

The Guardian - UK

Bank of England expected to raise interest rates to 13-year high

Economists predict minimum 0.25 point rise as households contend with cost of living crisis

Benzinga

Bitcoin Is Halfway To The Next Halving: Another Bull Run Incoming?

The world's first cryptocurrency Bitcoin (CRYPTO: BTC) is on its way to decreasing its inflation rate once again, with many in the cryptocurrency community believing that it will lead to another parabolic price increase.

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